Concentrix (NASDAQ:CNXC – Get Free Report)‘s stock had its “outperform” rating restated by analysts at Barrington Research in a research note issued to investors on Monday,Benzinga reports. They presently have a $38.00 price target on the stock. Barrington Research’s price target indicates a potential upside of 51.55% from the stock’s previous close.
Other equities analysts have also recently issued research reports about the company. Wall Street Zen cut Concentrix from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. Canaccord Genuity Group cut their target price on shares of Concentrix from $80.00 to $55.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Concentrix in a report on Monday, April 27th. Finally, Robert W. Baird decreased their price target on shares of Concentrix from $52.00 to $40.00 and set an “outperform” rating for the company in a research note on Wednesday, March 25th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Concentrix currently has an average rating of “Hold” and an average price target of $48.50.
Check Out Our Latest Analysis on Concentrix
Concentrix Stock Down 0.0%
Concentrix (NASDAQ:CNXC – Get Free Report) last released its earnings results on Tuesday, March 24th. The company reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.65 by ($0.04). Concentrix had a negative net margin of 13.35% and a positive return on equity of 17.80%. The company had revenue of $2.50 billion during the quarter, compared to analysts’ expectations of $2.49 billion. During the same quarter last year, the business posted $2.79 earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, equities analysts expect that Concentrix will post 10.42 earnings per share for the current fiscal year.
Insider Activity
In other news, major shareholder Bruxelles Lambert Groupe sold 6,000,000 shares of the company’s stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $22.25, for a total transaction of $133,500,000.00. Following the completion of the transaction, the insider directly owned 2,773,667 shares of the company’s stock, valued at approximately $61,714,090.75. This represents a 68.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Andre S. Valentine acquired 2,500 shares of the company’s stock in a transaction dated Thursday, April 9th. The stock was acquired at an average price of $27.95 per share, for a total transaction of $69,875.00. Following the acquisition, the chief financial officer owned 89,066 shares in the company, valued at approximately $2,489,394.70. The trade was a 2.89% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 0.90% of the company’s stock.
Hedge Funds Weigh In On Concentrix
Several hedge funds have recently added to or reduced their stakes in the stock. Huntington National Bank boosted its holdings in shares of Concentrix by 6,011.1% in the 3rd quarter. Huntington National Bank now owns 550 shares of the company’s stock valued at $25,000 after buying an additional 541 shares in the last quarter. Larson Financial Group LLC raised its stake in Concentrix by 224.9% during the 3rd quarter. Larson Financial Group LLC now owns 692 shares of the company’s stock worth $32,000 after acquiring an additional 479 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Concentrix by 532.7% in the first quarter. Geneos Wealth Management Inc. now owns 620 shares of the company’s stock valued at $34,000 after acquiring an additional 522 shares during the last quarter. Global Retirement Partners LLC lifted its position in Concentrix by 1,032.5% in the fourth quarter. Global Retirement Partners LLC now owns 872 shares of the company’s stock valued at $36,000 after acquiring an additional 795 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in Concentrix by 90.6% in the third quarter. Allworth Financial LP now owns 856 shares of the company’s stock valued at $40,000 after acquiring an additional 407 shares in the last quarter. 90.34% of the stock is currently owned by hedge funds and other institutional investors.
About Concentrix
Concentrix Inc (NASDAQ: CNXC) is a global business services company specializing in customer engagement solutions and technology‐driven business process outsourcing. The firm’s offerings encompass customer care delivered across voice and digital channels, back‐office processing, analytics and consulting, and automated workflow management. By integrating proprietary platforms, strategic partnerships and advanced automation, Concentrix helps clients enhance customer experiences and streamline operations.
Its capabilities extend to digital marketing and technology implementation, leveraging artificial intelligence, machine learning and data analytics to optimize customer journeys.
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